Asian Stocks Show Varied Performance Ahead of Powell's Speech in Cautious Trading

Mixed Performance in Asian Markets: Asian stocks showed varied results, influenced by strong U.S. economic data and hawkish Federal Reserve comments, leading to reduced expectations for rate cuts.

China's Stock Rally: The Shanghai Composite index rose 1.45% due to positive reports on Chinese stocks, while Hong Kong's Hang Seng index also saw gains fueled by mainland investments.

Japanese and South Korean Gains: Japanese markets ended slightly higher amid inflation concerns, while South Korea's Kospi index increased for the second consecutive session, driven by chip and defense stocks.

Declines in Australia and New Zealand: Australian markets fell after a record close, with significant losses in consumer staples and healthcare sectors, while New Zealand's S&P/NZX-50 index dropped 1.15%, impacted by a major casino operator's capital raise announcement.